Apollo Global Management, Inc. (NYSE:APO) Insider Leon D. Black Sells 500,000 Shares

Apollo Global Management, Inc. (NYSE:APO - Get Free Report) insider Leon D. Black sold 500,000 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the sale, the insider now directly owns 34,604,773 shares of the company's stock, valued at $4,913,877,766. This represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Apollo Global Management Stock Performance

NYSE:APO traded down $0.73 during mid-day trading on Tuesday, hitting $147.67. 2,429,928 shares of the stock were exchanged, compared to its average volume of 3,378,378. The firm's 50-day simple moving average is $154.19 and its 200 day simple moving average is $152.60. The stock has a market capitalization of $84.24 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management's dividend payout ratio is 25.31%.

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Institutional Trading of Apollo Global Management

A number of institutional investors have recently bought and sold shares of APO. 111 Capital acquired a new stake in shares of Apollo Global Management in the fourth quarter valued at approximately $344,000. Wealth Enhancement Advisory Services LLC raised its holdings in Apollo Global Management by 30.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,477 shares of the financial services provider's stock valued at $1,730,000 after acquiring an additional 2,426 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Apollo Global Management during the 4th quarter valued at $21,911,000. Siemens Fonds Invest GmbH lifted its position in shares of Apollo Global Management by 251.8% during the 4th quarter. Siemens Fonds Invest GmbH now owns 15,150 shares of the financial services provider's stock valued at $2,502,000 after acquiring an additional 10,843 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Apollo Global Management during the 4th quarter worth $26,844,000. Institutional investors own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

APO has been the topic of a number of research analyst reports. TD Cowen raised their price objective on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Piper Sandler lifted their price target on Apollo Global Management from $188.00 to $202.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Barclays upped their price objective on Apollo Global Management from $174.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. StockNews.com downgraded Apollo Global Management from a "hold" rating to a "sell" rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company lowered their price objective on shares of Apollo Global Management from $187.00 to $177.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $165.21.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.